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Mid And Small Cap Stocks On Which Mutual Funds/FIIs Are Bullish And Have Increased Their Stake In June Quarter

Personal Finance

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1. ITI Ltd:

ITI Ltd. also referred as Indian Teleph. Ind. Ltd is a small cap stock with a market capitalization of Rs. 11,347 crore as of June 30, 2021. This PSU enterprise is now catering to newer technologies in the telecommunication space. The clientele of the company includes BSNL, MTNL as well as the defence sector.

Now as there is a push towards Aatmanirbhar mission with government putting curb on imports of these equipments, the prospects of the company have been only improving. Also, the centre is also promoting the company for its different procurements into the area.

Further as the nation forays into 5G network it is enabling its testing by manufacturing 5G enables devices.

Now coming to the FII and MF participation into the scrip, for the June ended quarter, 0.02% stake has been picked by FIIs while MFs have also bought into the company by 0.01% which for both the institutional investors for the previous period ended March 2021 stood at 0 percent.

Nippon India ETF Nifty Midcap 150 was the highest buyer in the stock of ITI.. Other mutual funds that have invested into the stock of ITI include Aditya Birla Sun Life Nifty Midcap 150 Index Fund Regular Growth.

2. Vakrangee:

2. Vakrangee:

This is another small cap company commanding a market cap of Rs. 5649.2 crore as of June 30, 2021 wherein both mutual funds and FIIs have raised their stake. FII and FPI have picked a 0.03% stake taking the total holding by them to 9.71% against the earlier 9.68%. Mutual funds on the other hand have roped in 0.01% stake raising the stake to 0.04% as at the end of June quarter.

Vakrangee is a Mumbai headquartered company offering services in the areas of e-governance, e-commerce, financial, insurance, logistics and banking services to the underserved. The company delivers services via Nextgen Vakrangee Kendras i.e. the One Stop Shop.

3. The Ramco Cements:

3. The Ramco Cements:

This mid cap cement sector company has been bought by FIIs or FPIs taking the total holding to 8.64% from 8.26% as of March 2021. Also, the FPI and FII institutions invested into the stock have also increased from 144 to 149 as of June quarter.

Chennai headquartered cements firm is a flagship company of The Ramco Group. Main product of the company is Portland cement. The company stands at the fifth place in the country when it comes to cement production.

Last the stock of The Ramco Cements has been quoting at a price of Rs.1075.05

4. Aarti Industries:

4. Aarti Industries:

This is a midcap scrip with a market capitalization of Rs. 25,107 crore as of June 30, 2021. FIIs or FPIs have increased the holding in the scrip by a huge quantum of 3.18% taking the total stake to 11.84% as of June 2021.

It is a company into basic materials and engages in the manufacture of speciality chemicals and pharmaceuticals. The company manufactures chemicals that are used in the downstream manufacturing of pharmaceuticals, agrochemicals, polymers, additives, surfactants, pigments and dyes.

Recently the scrip of Aarti Industries has been given an ‘Accumulate’ rating by Geojit for a target price of Rs. 1902. Last the scrip of Aarti Industries traded higher at Rs. 854.05.

5. Alicon Castalloy Ltd:

5. Alicon Castalloy Ltd:

This is a small cap company commanding a market cap of Rs. 655.05 crore. Institutional Investors have increased holdings from 0.17% to 9.68% in Jun 2021 qtr i.e. a change of 9.5%

The company is into manufacturing of aluminium alloy castings. The Company produces parts for the automotive, agricultural equipment, marine, medical devices, locomotive, extreme sports apparatus and power industries.

The scrip of Alicon Castalloy trades at a price of Rs. 706 per share.

GoodReturns.in



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Indian Bank to finance startups in Telangana

Banking & Finance

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Indian Bank is looking forward to extend financial support to startups in Telangana and is likely to team up with T-Hub, according to its Managing Director and Chief Executive Officer, Padmaja Chunduru.

She was speaking at the formal lunch of ‘Prerana’, the flagship business mentoring programme of Indian Bank to create awareness among micro, small and medium enterprises, in Telangana on Tuesday.

“We have already started startup-financing in various States and are planning to enter into an understanding with T-Hub to do the same in Telangana,” the Indian Bank Chief said.

Prerana initiative

On the Prerana initiative, she said there were many ‘hindrances’ faced by MSMEs in the form of lack of awareness about various schemes of the government/banks, language barriers and lack of market knowledge and updates. The on-line program is intended to bridge this gulf, she said.

Referring to Telangana’s potential in MSMEs, Chunduru said there was huge scope for growth in areas like Pochampalli, Siricilla where there are hubs of weavers and other artisans.

After formally launching the scheme, KT Rama Rao, Minister for IT & Municipal Administration, Government of Telangana said the Telangana State Finance Corporation was ready to collaborate with Indian Bank to evolve some innovative mechanism to help small businessmen in the areas of providing collateral.

He also requested Indian Bank to increase lending to priority sectors especially to weaker sections and MSMEs apart from farmers.

Also read: LIC, SBI Life, Canara Bank pick up stakes in Indian Bank under QIP

The Minister had also requested Chunduru to join the board of We-Hub which has been set up by the State government to empower women.

Imran Amin Siddiqui, Executive Director at Indian Bank said despite contributing 30 per cent to the Gross Domestic Product (GDP) they were unable to derive many benefits of schemes due to lack of awareness and Prerana initiative will address the issue.

The Prerana initiative was first launched by the bank in October last year and has already been launched by the bank in Tamilnadu, Maharashtra, among other States. Going forward, Indian Bank plans to expand the program.

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Reserve Bank of India – Tenders

Tenders

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(RBI/Mumbai/Others/30/20-21/ET/794 Dated June 10, 2021)

Reserve Bank of India, Protocol and Security Establishment, Mezzanine Floor, Mumbai Office, Shahid Bhagat Singh Marg, Fort, Mumbai had invited e-tender for “Supply of Bio-Compostable Bin liners of size (19”x21” & 30”x37”) to the RBI’s various Offices and Residential colonies in Mumbai” on dated June 10, 2021.

The modifications / amendments to the tender are enclosed. The Bidders are requested to submit the bid after taking into account the modifications given in corrigendum.

Regional Director
Reserve Bank of India
Mumbai Regional Office

CORRIGENDUM

Tender for Supply of Bio-Compostable Bin liners of size (19”x21” & 30”x37”) to the RBI’s various Offices and Residential colonies in Mumbai

(RBI/Mumbai/Others/30/20-21/ET/794 Dated June 10, 2021)

I) Section II (1) (1.2) on Page no.13:

EMD Amount:

Please refer the condition (Section II (1) (1.2) on Page no.13 in this regard Bank modified the condition as below:

The tenderers should submit their proposal, as per the instructions regarding E-Tender, along with all supporting documents complete in all respects on or before 05:00 PM of 09-07-2021. Tenderers shall submit e-tender proposal along with refundable EMD of ₹ 84,000/- (Rupees Eighty Four Thousand only) complete in all respect as per the prescribed format.

Intending tenderer has to deposit Earnest Money Deposit (EMD) of Rs. 84,000/- (Rupees Eighty Four Thousand only) 2% of the estimated cost of 42,00,000/- (Rupees Forty two Lakhs only) exclusive of GST through NEFT in favour of Reserve Bank of India, Mumbai (P&SE) in the A/c No.: 04869229917 & IFS Code: RBIS0MBPA04 or furnish the Bank Guarantee in respect of the said amount. The Bank Guarantee (from SCB) submitted towards Earnest Money deposit has to be valid for the validity period of the tender plus additional 90 days (on or before the date mentioned in NIT). Tenders without EMD will not be accepted under any circumstances. EMD shall be forfeited if the bidder withdraws his bid during the period of tender validity or fails to execute the contract upon award of work and such bidder shall also be liable to be debarred from participating in any future tender or undertaking any work in the Bank for a period of two years. However, before debarring such bidder, the Bank shall give notice and consider the reply, if any, given by the bidder. EMD will not carry any interest. EMD will be refunded to the unsuccessful bidders within 10 working days of the award of the contract. In case of the successful bidder, the EMD will be refunded after submission of security deposit in the form of a valid bank guarantee and execution of the contract. Documentary evidence in support of remittance shall be submitted in sealed cover addressed to The Regional Director, Reserve Bank of India, Protocol and Security Establishment, Mumbai- 400 001 so as to reach P&SE Office on or before 09/07/2021 up to 2:00 PM super scribing as “Supply of Bio-Compostable Bin liners of size (19”x21” & 30”x37”) to the RBI’s various Offices and Residential colonies in Mumbai.”

II) Section II, (1) (1.15) (ii) on Page no.16

Annual Turnover:

Please refer the condition (Section II, (1) (1.15) (ii) on Page no.16) in this regard Bank modified the condition as below:

Tenderers should have minimum average annual turnover of Rs. 42 lakhs during the last 3 financial years supported by audited financial statements

III) Section VIII, (a) (II) on Page no.41

Annual Turnover Evaluation Marks:

Please refer the condition (Section VIII, (a) (II) on Page no.41) in this regard Bank modified the condition as below:

ANNUAL TURNOVER (Average of last three financial years) as on March 31, 2021- Max 30 Marks

a) More than Rs. 55 Lakhs – 30

b) Above Rs. 45 Lakhs and up to Rs. 55 Lakhs – 20

c) Rs. 42 Lakhs or more and up to Rs. 45 Lakhs – 15

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Japan’s SMFG nears $2-billion deal for Fullerton India

Banking & Finance

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Sumitomo Mitsui Financial Group Inc said it will buy a 74.9 per cent stake in Fullerton India Credit Co, marking the first entry into India’s retail financial business by a Japanese bank.

Japan’s second-largest lender will eventually acquire the rest of the Indian credit firm from Fullerton Financial Holdings Pte at a later stage, it said in a statement Tuesday, without providing terms of the transaction.

Citigroup to exit consumer banking operations in India, 12 other markets

ICICI Bank signs MoU with MUFG Bank

Bloomberg News earlier reported that Sumitomo Mitsui would pay about 220 billion yen ($2 billion) for the holding, according to people familiar with the matter who asked not to be identified.

Fullerton Financial is a unit of Singapore’s state investment fund Temasek Holdings Pte.

Faced with weak growth prospects at home, Sumitomo Mitsui has been allocating resources to Asia’s emerging markets in recent years. The bank took control of Indonesian lender PT Bank Tabungan Pensiunan Nasional in 2019 after acquiring a minority stake earlier. Sumitomo Mitsui is looking for targets in Vietnam, Philippines and India, Chief Executive Officer Jun Ohta said in an interview in December.

Sumitomo Mitsui in April agreed to buy a 49 per cent stake in Vietnamese consumer lender FE Credit. Last month, the bank said it will buy a 4.99 per cent stake in Rizal Commercial Banking Corp of the Philippines for 4.48 billion pesos ($91 million).

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SAT hearing on PNB Housing-Carlyle deal put off a week

Banking & Finance

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The Securities Appellate Tribunal (SAT) will hear the case related to the PNB Housing Finance-Carlyle deal next Monday.

The order in the matter was expected on July 5, however, it was adjourned for July 12.

PNB Housing had filed an appeal before the SAT against the letter issued by the Securities and Exchange Board of India last month, requesting it not to go ahead with the proposal until due diligence was done.

“As sought by the company, the Securities Appellate Tribunal, in its hearing on July 5, 2021, adjourned the case for Monday, July 12, 2021,” PNB Housing Finance said in a regulatory filing on Tuesday.

Capital infusion by Carlyle

Under the deal announced on May 31, the US-based Carlyle, alongside other investors, is slated to infuse ₹4,000 crore capital into PNB Housing through the issuance of preference shares and warrants.

However, the deal has come under the scanner of the regulator. The company was directed to carry out the valuation process of shares as per the relevant legal provisions.

PNB Housing contended that it has followed SEBI norms in deciding the issue price at ₹390 apiece.

The scrip of the company traded at ₹695.35 apiece on BSE, down 1 per cent from its last close.

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Amazon Pay ICICI Bank credit card surpasses two million customers, BFSI News, ET BFSI

Banking & Finance

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ICICI Bank and Amazon Pay have announced that the Bank has crossed the milestone of issuing two million ‘Amazon Pay ICICI Bank‘ credit cards. In the process. Having been introduced in 2018, the card has emerged as the fastest co-branded credit card to cross this milestone in the country.

The card also holds the record of being the fastest co-branded credit card in India to cross the milestone of one million issuances in October last year. Thereafter, the card has onboarded another one million customers in the last nine months, with over 80% of new customers availing the card completely digitally, without any physical interaction.

Any registered customer of Amazon.in, including those who are not customers of ICICI Bank, can apply for the card digitally, from anywhere in the country. This is among the first credit cards in India which introduced ‘Video KYC’ for customers in June 2020.

“The Amazon Pay ICICI Bank credit card has received an exciting response from customers across the country. The best-in-industry rewards, seamless access to credit and the easy onboarding process are the key contributors of this excitement.” said Sudipta Roy, Head – Unsecured Assets, ICICI Bank.

“At Amazon Pay, we are transforming the way customers make digital payments. The Amazon Pay ICICI Bank credit card is one of the most rewarding, convenient and trusted payment experiences in the country. Over 2 million customers have shown their trust in us and how they value the experience.” said Vikas Bansal, Director – Amazon Pay India.

The reward earnings are credited monthly, after the billing cycle date of the card to the customer’s Amazon Pay balance. They can redeem these earnings to purchase from more than 16 crore items available on Amazon.in across. The reward earnings can also be used with Amazon Pay partner merchants for transactions like flight tickets, booking hotels, food delivery, movie tickets and much more.

“We’re delighted that the Amazon Pay ICICI Bank credit card powered by Visa has crossed two million cards, with the last one million cards issued in less than a year, despite the ongoing pandemic. This reinforces the belief that consumers prefer cards that give them great rewards and ease of payment.” said Shailesh Paul, Head of Merchant Sales & Acquiring and CyberSource, India and South Asia, Visa.



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3 Best Investments To Explore With Sensex At Near Lifetime Highs

Personal Finance

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Gilt Funds

Gilt funds are debt funds that invest in Government Securities. Since these schemes invest a minimum of 80% in Government Securities, so you remain free of worries about your fund security. Gilt funds can give up to 12% returns, the 5-year return average of Indian Gilt funds is nearly 9%, but there is no return guarantee on this product. You also need to consider and take into account other factors while investing in Gilt funds like the average maturity of Gilt Funds is 3-5 years, so your investment horizon should be in accordance with the tenure.

Corporate Bonds

Corporate Bonds

This is another good option of debt instrument, which invests a minimum of 80% of funds in the highest-rated corporates. Funds are landed to only big corporates, which are capable of repaying debt on maturity. India’s corporate bonds are giving 8-9% returns, so one can also consider it to be part of their portfolio. But, all the risk factors and terms & conditions should be well taken into consideration.

Gold Funds

Gold Funds

The yellow metal has given almost 13% returns in 1 year and is expected to do well in near future as well. However, it is not a debt instrument and its performance completely depends on Gold returns, but one should consider Gold as part of their portfolio and should invest at least 10% of portfolio value in it, as Gold always gives protection against inflation in the long run. There are multiple choices available for investors for gold investment like Gold Mutual Funds, Sovereign Gold Bonds, and Gold ETFs. Sovereign Gold Bonds has an advantage over other investment tools that it gives an additional 2.5% as an interest to investors apart from Gold performance and it has Sovereign guarantee as well.

Conclusion

Conclusion

If an investor has fears about high market levels, then they can invest some part of the portfolio in debt instrument and Gold but I suggest, not withdrawing all funds from equity because it is hard to decide entry level once you exit from the market. Like in a recent case, after Covid-19 1st wave when Nifty approaching its previous high 12k, some investors took an exit from the market, Nifty not performed as per people’s expectations and continuously made new highs, some of those investors are still not able to re-enter and has missed a big opportunity. So I suggest, one should have a minimum of 40 % of their funds in the equity market all the time because you never know what could be at the top of the equity market this year.

Ravi Singhal is Vice Chairman, GCL Securities



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ICICI Bank Extended Validity of Its Special Fixed Deposit Scheme, Check Details

Personal Finance

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Investment

oi-Vipul Das

|

For both your short-term and long-term goals, ICICI Bank provides a range of fixed deposit schemes with assured returns. With flexible tenure options, attractive interest rates, and online banking facility, ICICI Bank provides its customers with the best fixed deposit plans. ICICI Bank allows its customers in 4 different types of FD schemes, i.e. Regular Fixed Deposit, ICICI Bank Golden Years FD (For resident senior citizens), Money Multiplier FD and Tax Saver FD.

ICICI Bank Extended Validity of Its Special Fixed Deposit Scheme, Check Details

For the betterment of senior citizens who have experienced a low-interest rate regime of bank fixed deposits since the last year due to COVID-19, ICICI Bank offers a special fixed deposit scheme for senior citizens named Golden Years Fixed Deposit. Under this special fixed deposit scheme, resident senior citizens would be eligible to get an additional 0.30 percent interest rate on their single fixed deposits of less than Rs 2 Cr, above the prevailing additional rate of 0.50 percent per annum. This additional interest rate is only applicable on deposit periods of 5 years to 10 years and on new fixed deposits or renewed deposits.

The validity of this scheme was earlier valid till June, 2021, but now it has been extended by the bank. On its official website, ICICI Bank has stated that “this scheme is applicable from May 20, 2020 to October 7, 2021.” The bank has also clarified that a penalty rate of 1.30% would be charged in case of premature exit or withdrawal, whereas all other terms and conditions will remain the same for senior citizens.

Recently, leading banks of India such as HDFC, Bank of Baroda and State Bank of India have also extended the validity of their special term deposit scheme for senior citizens till September 30, 2021. Under its WeCare Deposit scheme, SBI is promising an interest rate of 6.20% for senior citizens for a deposit tenure of 5 to 10 years. Whereas, for the same tenure, HDFC Bank and Bank of Baroda are providing an interest rate of 6.25% respectively under their special fixed deposit scheme for senior citizens.

Story first published: Tuesday, July 6, 2021, 11:03 [IST]



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Can FDI investor also be an FPI, Zomato IPO will answer, BFSI News, ET BFSI

Banking & Finance

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Investors in Zomato want more of it as the company heads for an IPO.

Several foreign investors who have pumped in money in Zomato are keen to subscribe to the company’s upcoming Rs Rs 8,250 crore initial public offering.

However, they may not be able to invest according to a 2019 rule which debars investment in a company through both FDI and FPI routes.

“A person resident outside India may hold foreign investment either as FDI or as FPI in any particular Indian company,” according to Foreign Exchange Management (Non-debt Instruments) Rules of October 2019.

Investors have now approached Reserve Bank of India (RBI) and Securities and Exchange Board of India (Sebi) to figure out whether existing foreign investors in the company can participate in the maiden equity offering.

FDI

Foreign direct investment or FDI pertains to international investment in which the investor buys a lasting interest in an enterprise in another country. It may take the form of buying or constructing a factory in a foreign country or adding improvements to such a facility, in the form of property, plants, or equipment. FDI is a cross-border investment, by a resident or a company domiciled in a country, to a company based in another country, with an objective of establishing a lasting interest in the economy.

FPI

Foreign Portfolio Investment or FPI refers to the investment made in the financial assets of an enterprise, based in one country, by foreign investors. FPI involves the purchase of securities that can be easily bought or sold. The intent with FPI is generally to invest money into another country’s stock market with the hope of generating a quick return. Such an investment is made with the aim of making short-term financial gain and not for obtaining significant control over the managerial operations of the enterprise.

Zomato IPO

Zomato has filed preliminary papers with Sebi to raise Rs 8,250 crore through an initial share sale.

The IPO comprises fresh issue of equity shares worth Rs 7,500 crore and offer for sale to the tune of Rs 750 crore by Info Edge (India) Ltd, draft red herring prospectus filed with Sebi showed on Wednesday.

Proceeds from the fresh issue would be used towards funding organic and inorganic growth initiatives; and general corporate purposes.



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